MARKET FIX 28/03/2022
USDZAR Back on 10-Year Support Last week I noted price was trading on the 61.8% Fibonacci level but when looking at the bigger picture and taking into account those highs and lows we are in fact only now trading at the 61.8% correction level. This is also coinciding with the 10-Year diagonal support @ 14.50. […]
MARKET FIX 21/03/2022
USDZAR General Correction Wave What I initially thought will turn out to be an inverted head and shoulders pattern has now been invalidated due to what would have been the right shoulder breaking below the low of the ‘head’. This leads me to believe we are rather looking at a general corrective wave. The current […]
MARKET FIX 14/03/2022
USDZAR Inverted Head and Shoulders Extended The inverted head and shoulders we have been monitoring have broken back below the yearly pivot and effectively extended the bottom of the right shoulder. The pattern will remain valid as long as the right shoulder does not break below the head. Considering we have now tested the Daily […]
MARKET FIX 07/03/2022
USDZAR Possible Inverted Head and Shoulders The inverted head and shoulders we have been monitoring have continued to form with the right shoulder now effectively in place and the yearly pivot @ 15.20 now well-established support. The trigger remains the break above 15.50 and will from there continue towards its target near 16.40. GBPUSD Break […]
MARKET FIX 28/02/2022
USDZAR Possible Inverted Head and Shoulders What appeared to be an initial rejection from the Yearly Pivot on Friday has now turned around again and instead is showing the YP to act as strong support. This is also now setting up a potential inverted Head and Shoulders with the right shoulder yet to fully form. […]
MARKET FIX 21/02/2022
USDZAR Deeper Support Being Tested Support in terms of the Yearly Pivot has failed to hold last week and price has now in line with our bearish scenario from last week tested deeper support from the Daily 200 SMA and Monthly S1 Pivots. If we find support year I would expect a recovery to resistance […]
MARKET FIX 14/02/2022
USDZAR Another Test of Major Support and YP Despite initial bullish momentum the Monthly R1 pivot proved to be too strong resistance consequently sending the price back to test the Monthly and Yearly Pivots @ 15.20. I expect support to hold which would subsequently see another rally to resistance @ 15.60. If support fails to […]
MARKET FIX 07/02/2022
USDZAR Bullish Reversal Confirmed Friday’s bullish candle gives credence to the reversal of support from the Yearly Pivot @ 15.20. We will likely continue to see momentum building which could take us closer towards resistance @ 15.80. If we see a breakout here it will trigger the larger bull flag. GBPUSD Follow the Daily 21 […]
MARKET FIX 31/01/2022
USDZAR Bullish Reversal Confirmed Previously we mentioned that we were expecting a bullish reversal. Since the rejection of support from the Yearly Pivot @ 15.20 we have seen good momentum building which could take us closer towards resistance @ 15.80. If we see a breakout here it will trigger the larger bull flag. EURUSD Bear […]
MARKET FIX 17/01/2022
USDZAR Pending Bullish Reversal After what appears to be a double top, the price has now pulled back towards the Yearly Pivot and slanted inverted head and Shoulders Neckline @ 15.20. This would be a good area to expect buyers to step back in and drive the price back towards the inv HnS target. Wait […]